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is the world economy prepared to deal with another oil shock? the answer is no. >> until we can develop alternative fuels for transportation, the world remains at the mercy of the oil markets. weaning ourselves off fossil fuels is a slow and expensive business. but there is a fossil fuel that is relatively cheap and also plenty full. natural gas. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. i got your campbell's chunky soup. mom? who's mom? i'm the giants mascot. the giants don't have a mascot! ohhh! eat up! new jammin jerk chicken soup has tasty pieces of chicken with rice and beans. hmmm. for giant hunger! thanks mom! see ya! whoaa...oops! mom? i'm ok. grandma? hi sweetie! she operates the h
is the world economy prepared to deal with another oil shock? the answer is no. >> until we can develop alternative fuels for transportation, the world remains at the mercy of the oil markets. weaning ourselves off fossil fuels is a slow and expensive business. but there is a fossil fuel that is relatively cheap and also plenty full. natural gas. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my...
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this exacts the economy. the uncertainty is creating havoc with our economy and our states. >> well, the bipartisan delegation of governors wrapped up their meetings at the white house a few hourgz ago a. they plan to meet with republican leaders this afternoon and have made one thing clear. they're not taking sides in this one. >> our focus today was not to endorse a specific plan nor to dismiss a specific plan but rather to point out as gary mentioned as governors we think it's important we have a seat at the table. >> joining us now is two governors that attended that meeting, chairman of the national governors association jack merkel as well as oklahoma's republican governor the group's vice chair. thaw for joining us. governor fallon, i'll start off with you. we heard scott walker in there. why not take a side here? >> well, we have 50 different states. we have governors that have different political philosophies. what we're trying to find is common ground, some collaboration between the national governo
this exacts the economy. the uncertainty is creating havoc with our economy and our states. >> well, the bipartisan delegation of governors wrapped up their meetings at the white house a few hourgz ago a. they plan to meet with republican leaders this afternoon and have made one thing clear. they're not taking sides in this one. >> our focus today was not to endorse a specific plan nor to dismiss a specific plan but rather to point out as gary mentioned as governors we think it's...
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it didn't seem to have that much of an impact on the economy. what can we expect if republicans do decide to use that same tactic again? >> oh, i think we can expect a real economic chaos. the reason why things worked out okay last night was because we actually increased the debt ceiling at the end of the day. the president has been very clear that he's not going to be manipulated like that this time, and i think the idea of holding this economy hostage like that, again, i've been emphasizing in all comments so far makes particularly no sense with the economy improving a he bit. remember, if you're a debt holder and you're holding u.s. debt and we default, i mean, imagine what that -- what kind of message that sends. what it does to interest rates. in my view fooling around with the debt ceiling is worse than the fiscal cliff. so you're sort of trading one monster for another. i think it would be, again, absolutely nuts to go there. >> peter, what do you think? >> oh, i don't agree. i think that the fiscal cliff and it is a cliff, on january 1 w
it didn't seem to have that much of an impact on the economy. what can we expect if republicans do decide to use that same tactic again? >> oh, i think we can expect a real economic chaos. the reason why things worked out okay last night was because we actually increased the debt ceiling at the end of the day. the president has been very clear that he's not going to be manipulated like that this time, and i think the idea of holding this economy hostage like that, again, i've been...
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the idea we're at a fiscal cliff where the economy stops on january 1st is completely misleading. it's a squeeze. everyone will feel it, but then you're in a position where everyone can vote to cut taxes. that might be more politically feasible. >> i like that perspective. you help us take out some of the fear mongering we see, a lot of the media is perpetuating. that's why we're doing the fiscal follies and the wheel of fortune. fiscal fiesta. the media is doing all this fear mongering and you get a lot out of washington. this is a self-created drama, of course. these cliff negotiations. but the markets are remaining relatively calm and steady. why are investors being so cool and above the fray when everybody else is running around with their heads cut off? >> everybody thinks what you see on tv with the duelling positions and we refuse to negotiate, the market sees it for what it is, which is theater. everyone is staking out the position trying to suck up to the base. there will be behind the scenes caving at some point, and if there isn't, if everyone just says absolutely not,
the idea we're at a fiscal cliff where the economy stops on january 1st is completely misleading. it's a squeeze. everyone will feel it, but then you're in a position where everyone can vote to cut taxes. that might be more politically feasible. >> i like that perspective. you help us take out some of the fear mongering we see, a lot of the media is perpetuating. that's why we're doing the fiscal follies and the wheel of fortune. fiscal fiesta. the media is doing all this fear mongering...
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not a pro on the economy. i think we need to invest and there's a sweet spot comes up in infrastructure in particular that offers a real opportunity. >> jay, my question. as far as when you talk about that sweet spot, if we're going to start seeing inflation through the roof, i think a lot of people expect it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you said, there are places that business can succeed. is it government-infused money to get there, or is it going to be actual, real, american dollars in there? >> susan, that's really the opportunity. first of all, i don't think inflation is a concern for years. in order for inflation to be a concern it it has to get into the wage cycle. we're far from that. the needs are clear. ports, roads, transport rail and plus protection against extreme weather. on the other side demand. the demand for infrastructure investments isle comin
not a pro on the economy. i think we need to invest and there's a sweet spot comes up in infrastructure in particular that offers a real opportunity. >> jay, my question. as far as when you talk about that sweet spot, if we're going to start seeing inflation through the roof, i think a lot of people expect it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you...
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we'd jam the economy into a devastating recession. i mean, david said it well in his piece this morning. if you think the fiscal cliff is a problem, this kind of hostage taking around the debt ceiling is multiples of that and the president is, i think, very correct to stand extremely firm and be extremely clear that he's not going to play that game. >> karen, the politics of this are frightening for the republicans. the latest polling does not support their stance. and given that they spent four years obstructing this president and failed, why do it again from the outset of his second term? >> well, you know, there's good news for the republicans, martin. karl rove's group, crossroads gps is going to spend some money for some ads, and we know that's a successful strategy in convincing the american people. >> that's good news. >> i can't pass that chance up to do that. >> i understand. >> i think part of what's so important about the polling, we talked about this on monday and the quinnipiac polling you were showing, the republicans ha
we'd jam the economy into a devastating recession. i mean, david said it well in his piece this morning. if you think the fiscal cliff is a problem, this kind of hostage taking around the debt ceiling is multiples of that and the president is, i think, very correct to stand extremely firm and be extremely clear that he's not going to play that game. >> karen, the politics of this are frightening for the republicans. the latest polling does not support their stance. and given that they...
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this impacts the economy and uncertainty out there that is lingering is creating havoc with our economy and our states and in my particular budget, not only don't we have growth money which we're anticipating in utah which is having a pretty healthy economy, we could take as much as a $500 million loss in revenue strings because of not getting it resolved. we're going to encourage people to come together and get it done. we're also saying that states are willing to do our part. we understand this will be a shared sacrifice as you have to look at spending cuts. states are willing to do more with less. we're asking for more flexibility. it's a common theme that we've talked about with the president, with congress. give us more flexibility. take away some of the strings and we can do more with less, help you balance your budget. >> governor walker what exactly did you say to our president and did you talk about taxes? >> well, in our case, as jack and mary both mentioned, we're not here as individual governors. we're here as part of the national governors so tp it wasn't to discuss a speci
this impacts the economy and uncertainty out there that is lingering is creating havoc with our economy and our states and in my particular budget, not only don't we have growth money which we're anticipating in utah which is having a pretty healthy economy, we could take as much as a $500 million loss in revenue strings because of not getting it resolved. we're going to encourage people to come together and get it done. we're also saying that states are willing to do our part. we understand...
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that raising taxes on the rich with would hurt the economy and the economy is fragile. the numbers though that the economy is not fragile and that would improve the economy's leverage. he's still doing so many public events. he is trying to use that public pressure to sort of force the republicans to cut a deal. >> doing this public stuff but at the same time having these private talks with the speaker and david axelrod talked about what the president and speaker might be doing behind closed doors and the reasoning behind it. let's listen. >> both the president and the speaker are very fluent in the basic numbers. they have been living with them for some time now. so as i said, i don't think that there's a lot of mystery about this. the politics has to be traverse. they've got to get through the rocky shoals of grover norquist. >> does that make it easier to keep politics out of it? >> i think it helps for the two men to make a deal that might work for all sides. i sound like i'm a broken record for myself but i'm still trying to find out if both parties are trying to f
that raising taxes on the rich with would hurt the economy and the economy is fragile. the numbers though that the economy is not fragile and that would improve the economy's leverage. he's still doing so many public events. he is trying to use that public pressure to sort of force the republicans to cut a deal. >> doing this public stuff but at the same time having these private talks with the speaker and david axelrod talked about what the president and speaker might be doing behind...
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how does this stimulate the economy and how does it solve the debt? the president's proposal is $160 billion of new taxes a year on a $1 trillion problem. we've got to get to the spending side. >> let me play for you what the president said about this. >> unfortunately, the speaker's proposal right now is still out of balance. he talks for example about $800 billion from revenues but says he's going to do that by lowering rates and when you look at the math it doesn't work. >> he says, congressman, the math doesn't add up. >> i'd like to see how he's doing his math on his spending cuts. so far take the spending cuts from last year and count them again this year, also going to end the war in 2014 so we'll have savings, won't wore row as much and take that as $2 trillion in savings. neither of those are real savings or cuts. the statement we won't borrow as much because we're ending the war and saying we never did a tax increase let's count it again is absurd. >> the $800 billion proposal independent experts looked at this and say technically you have t
how does this stimulate the economy and how does it solve the debt? the president's proposal is $160 billion of new taxes a year on a $1 trillion problem. we've got to get to the spending side. >> let me play for you what the president said about this. >> unfortunately, the speaker's proposal right now is still out of balance. he talks for example about $800 billion from revenues but says he's going to do that by lowering rates and when you look at the math it doesn't work. >>...
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for example, the need for what they call a pro-growth economy, like senator ron johnson. let me play for you what he had to say. >> this president simply doesn't understand that and as a result he's going to punish success, put at risk the economic growth that we really need to create jobs, revenue that we need. >> this is sort of the talking point that we've been hearing all along. is there any indication around capitol hill that there is some softening on that? >> i don't even know what that means, putting -- basically, i believe that the argument is that only by decreasing taxes can you lead to growth. there is a lot of historical evidence that that is not necessarily the case. i think the issue for the gchop right now is whether the tax cuts expire for everyone or whether for only those with income over $250,000. >> let me bring in jim from the national journal. jim, we had a little technical problem there. let me ask you about what she said said. can anything be decided at all until a decision is made about who is going to have tax cuts expire if it's just going to b
for example, the need for what they call a pro-growth economy, like senator ron johnson. let me play for you what he had to say. >> this president simply doesn't understand that and as a result he's going to punish success, put at risk the economic growth that we really need to create jobs, revenue that we need. >> this is sort of the talking point that we've been hearing all along. is there any indication around capitol hill that there is some softening on that? >> i don't...
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let's keep our economy on the right track. let's stand up for the american belief that each of us have our own dreams and aspirations, but we're also in this together. we can work together in a responsible way that we're one people and one nation, that's what this country is about, that's what all of you deserve, what i'm fighting for every single day and i will keep fighting for as long as i have the privilege of being your president. thank you very much everybody. god bless you, god bless america. >> that is president obama speaking at the manufacturing facility in hatfield, pennsylvania. melissa harris-perry i think sasha and malia will get kinex roller coasters. could the president push those more than the tax cuts. i'm likening this to when dillon went electric. we are seeing obama play a hard ball that the democrats have not played with this current sort of republican party and it's most modern manifestation. what do you make of the messaging now, the fact he is going hard with one message only, which is about middle cla
let's keep our economy on the right track. let's stand up for the american belief that each of us have our own dreams and aspirations, but we're also in this together. we can work together in a responsible way that we're one people and one nation, that's what this country is about, that's what all of you deserve, what i'm fighting for every single day and i will keep fighting for as long as i have the privilege of being your president. thank you very much everybody. god bless you, god bless...
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. >>> so, this morning we're going to find out how hard superstorm sandy slammed the economy with the government's november jobs report due out. economists fear sandy battered hiring with estimates of 80,000 to 93,000 jobs added, compared to 171,000 in october. but some good news, though, yesterday from yesterday's weekly jobless claims, which held steady right around the prestorm level. >>> elsewhere, apple says it will begin making one of its mac lines right here in the u.s. next year. that will be good. >>> bowing to growing criticism across the pond, starbucks is foregoing certain tax deductions that help to reduce its tax bill to zero in britain, and they've agreed to pay $32 million of money they do not owe. >>> the securities and exchange says netflix chief reed hastings may have violated fair disclosure rules with a facebook post back in july, boasting monthly streaming hours passed 1 billion for the first time. netflix stock soared 6% that day. >>> ibm is revamping its retirement program with plans to now contribute to employee 401(k) accounts just once a year in a lump sum p
. >>> so, this morning we're going to find out how hard superstorm sandy slammed the economy with the government's november jobs report due out. economists fear sandy battered hiring with estimates of 80,000 to 93,000 jobs added, compared to 171,000 in october. but some good news, though, yesterday from yesterday's weekly jobless claims, which held steady right around the prestorm level. >>> elsewhere, apple says it will begin making one of its mac lines right here in the u.s....
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look we hope and pray this economy is getting better, the job situation is getting better, there are millions of people on food stamps that were solidly middle class in the past and it's looking better and i hope and pray that congress reaches bipartisan compromise. don't send us over the fiscal cliff. do the right thing. be statesmen. reach a compromise. >> politico put some meal suggestions. this gives a perspective. for this food stamp budget you can get one sandwich two two slices of store brand bread. two slices of cheese. that's $1.24. another option is seven ounz frozen fried fish plank. what's your reaction was when you did this from your constituents and what purpose does it serve for somebody like you or cory booker to do this? >> i got a lot of kudos for doing it. i admire mayor booker for taking on this challenge. don't give us too many can you dose. we only did it for a week. there are a lot of false stereotypes about people living in food stamps. that's not fair. that's not my experience. these are hard-working people. they don't want to be on food stamps. they want to
look we hope and pray this economy is getting better, the job situation is getting better, there are millions of people on food stamps that were solidly middle class in the past and it's looking better and i hope and pray that congress reaches bipartisan compromise. don't send us over the fiscal cliff. do the right thing. be statesmen. reach a compromise. >> politico put some meal suggestions. this gives a perspective. for this food stamp budget you can get one sandwich two two slices of...
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you can't have a great economy when wealth is at the high end. you need a strong, broad based economy. >> the debt ceiling leverage. we have seen it used before. here he is talking to mike allen about how he sees the strategy of this playing out. >> this president is not going to extend. he loses his leverage that way. >> republicans have other leverage. they can give him debt ceiling increases once a month, have them on a rather short leash, here's your allowance, come back if you have behaved. >> wait. you are proposing the debt ceiling be increased -- >> monthly. monthly if he's good. weekly, if he's not. >> it's no -- note that in the opening offer, getting rid of essentially this debt ceiling procedure was part of that. i think probably because of precisely that. i want to bring in bruce bartlett. he's an analyst from the reagan and bush administration. bruce, you were there at the beginning of the supply side revolution, the tax revolt. i guess, what is your sense of how it's evolved and what the poll -- how the politics have changed over t
you can't have a great economy when wealth is at the high end. you need a strong, broad based economy. >> the debt ceiling leverage. we have seen it used before. here he is talking to mike allen about how he sees the strategy of this playing out. >> this president is not going to extend. he loses his leverage that way. >> republicans have other leverage. they can give him debt ceiling increases once a month, have them on a rather short leash, here's your allowance, come back...
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the economy's growing two percentage points. subtract 3.5, that is a severe recession. >> if we go off the fiscal cliff with no policy changes the near-term negative economic consequences would be significant and most assuredly throw us into a recession. >> comes a day after treasury secretary tim geithner told cnbc the white house is prepared to go the distance if its demands are not met. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done involve those rates going up on the top 2% of the wealthiest. remember it's only 2%. >> former senator alan simpson, co-founder of the fix the debt campaign, choice words and analysis for would-be cliff jumpers. >> when you have leaders of parties and people from the administration saying, i think it will be to the advantage of the democrats to go off the cliff, wealthy it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betti
the economy's growing two percentage points. subtract 3.5, that is a severe recession. >> if we go off the fiscal cliff with no policy changes the near-term negative economic consequences would be significant and most assuredly throw us into a recession. >> comes a day after treasury secretary tim geithner told cnbc the white house is prepared to go the distance if its demands are not met. >> if republicans do not agree to that, is the administration prepared to go over the...
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i do believe that this economy will continue to thrive, this economy will continue to move forward. i don't believe that we're going to go into a huge, deep recession again if these bush tax cuts expire. i do believe that you can strengthen the economy if you let everything go off the cliff and come back and put in front of the american people and do a better job for the economy. there's up side either way you go. the president has got boehner in an untenable position. he doesn't have very many avenues to a victory right now but he's got a good escape, thomas. all john boehner has to do to exit out of this quickly is to say he won the election, we didn't, the american people in every survey say this is where we're going to go, we're going to go along with the wishes of the american people and the republicans would get goodwill for doing that. they have to get out of this ideological headrow that they're stuck in and do something for the company. >> the polls give them plausible acceptability of this plan of trying to move forward and, as you say, with the will of the american people
i do believe that this economy will continue to thrive, this economy will continue to move forward. i don't believe that we're going to go into a huge, deep recession again if these bush tax cuts expire. i do believe that you can strengthen the economy if you let everything go off the cliff and come back and put in front of the american people and do a better job for the economy. there's up side either way you go. the president has got boehner in an untenable position. he doesn't have very many...
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economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the republicans right now in the house of representatives have a bill that would extend the middle class tax cuts right away that has passed the senate that they could take up next week when we come back. they could have already taken it up. we have a lot of time, and the republicans refuse to give certainty to the middle class. the president said he'd seen this bill right away, and then the rest of the issues we need to sort out we can hash out over the next few weeks before we reach december 31st. >> issues like entitlement reform? >> well, issues like making
economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the...
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it has enormous economies of scale and bargain for better rates of doctors and hospitals dictate prices so for what it provides, medicare's very cheap. it's getting expensive over time because a lot more people are going on to the program and in general the health care system, public health insurance, private health insurance, it's all very expensive and only so much right now that medicare can do about it. the problem isn't medicare, per se. not that medicare is a wasteful program but the health care system is -- and health care costs and getting in to the guts of the health care system and rather than lopping off a sum of health care. >> if we lowered health care costs overall, the cost of medicare goes down andç medica more affordable without necessarily even needing to tinker with medicare and the point of something that you were writing about. we have all the conversations about hundreds of billions and cutting from medicare to deal with the fiscal cliff right now but your point is, if we can get the cost of health care under control we don't need to cut anything right now and th
it has enormous economies of scale and bargain for better rates of doctors and hospitals dictate prices so for what it provides, medicare's very cheap. it's getting expensive over time because a lot more people are going on to the program and in general the health care system, public health insurance, private health insurance, it's all very expensive and only so much right now that medicare can do about it. the problem isn't medicare, per se. not that medicare is a wasteful program but the...
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the economy is on the road to recovery. let's bring in sam stein, reporter for hu"the huffington post." there's so much evidence that the republicans had the wrong narrative during the election. they have the wrong narrative right now. this should be really a boom for the democrats right now in the conversation world, shouldn't it? >> yeah, like you mentioned, consumer confidence is growing. the wind is at the president's back with respect to how people perceived the economy. the factor here is what happens if, for instance, in the process of these negotiations, consumer confidence dips. people feel like they are troubled by investing money and the economy goes back into a recession nar status. that's what the president wants to avoid with this fiscal cliff conversation. that's why a deal is going to be hammered out probably before the end of the year. the president does have a little political head wind. >> this gives, i think, labor a real opportunity to show the country the graph that we showed, the separation between co
the economy is on the road to recovery. let's bring in sam stein, reporter for hu"the huffington post." there's so much evidence that the republicans had the wrong narrative during the election. they have the wrong narrative right now. this should be really a boom for the democrats right now in the conversation world, shouldn't it? >> yeah, like you mentioned, consumer confidence is growing. the wind is at the president's back with respect to how people perceived the economy....
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if that continues into december for the economy, that's a bad sign. focus less on the employment report than consumer confidence as a factor in the fiscal cliff negotiations. >> these numbers are still too high, yes. we are going in the right direction and that is clear month after month. we have an unemployment crisis in this country. the casey foundation announced this week youth unemployment is higher than it's ever been since world war ii and these young people are out of the job market, staying out of the job market. this impacts them for life. if we were a serious country we would be having a discussion about unemployment. this should not take all the urgency away from that. >> and as ayman said, the numbers sort of -- they don't tell an accurate picture in terms of what's happening with unemployment in the country. it's the lowest in four years, but actually -- >> partly because people -- >> you want the number to be high eer because more people ar in the work force. look at where income is in this country, no means the middle class and working
if that continues into december for the economy, that's a bad sign. focus less on the employment report than consumer confidence as a factor in the fiscal cliff negotiations. >> these numbers are still too high, yes. we are going in the right direction and that is clear month after month. we have an unemployment crisis in this country. the casey foundation announced this week youth unemployment is higher than it's ever been since world war ii and these young people are out of the job...
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they have struggled with the economy in recent years. they said they don't expect their lives will change that much. but they said, christmas just got a whole lot better. alex, back to you. >> i love this story. i could hear you go on and on. can't wait to find out the confirmation of the second one. thank you so much, tom. >>> so, what would you do with your powerball winnings? you can all talk to me at twitter, my handle is @alexwitt. i'll be reading some of your tweets throughout the day. let's go back to washington now, though, and little apparent progress on the so-called fiscal cliff talks. actually that's putting it mildly. it appears both sides may be digging in their heels. joining me now, congressional reporter for the washington "post" ed o'keefe and washington reporter for the hill, amie parnes. amie let's get with the president's proposal first. it includes $1.6 trillion tax hikes over ten years, that's raising rates on the top 2%, making over $250,000. now this proposal also calls for $50 billion in immediate stimulus, and
they have struggled with the economy in recent years. they said they don't expect their lives will change that much. but they said, christmas just got a whole lot better. alex, back to you. >> i love this story. i could hear you go on and on. can't wait to find out the confirmation of the second one. thank you so much, tom. >>> so, what would you do with your powerball winnings? you can all talk to me at twitter, my handle is @alexwitt. i'll be reading some of your tweets...
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willing to let rates go back up, and we think they should go back to the clinton levels, a time when the economy was doing exceptionally well, then there will not be an agreement. >> let's go to the other side. republican house speaker john boehner also digging in, admitting that talks are going nowhere. speaker boehner also describing the moment when geithner first showed him the president's opening offer. >> i was flabbergasted. i looked at him, i said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they've actually asked for more revenue than they've been asking for the whole entire time. >> what are the chances we're going to go over the cliff? >> there's clearly a chance. >>> meanwhile, grover norquist making a new pr
willing to let rates go back up, and we think they should go back to the clinton levels, a time when the economy was doing exceptionally well, then there will not be an agreement. >> let's go to the other side. republican house speaker john boehner also digging in, admitting that talks are going nowhere. speaker boehner also describing the moment when geithner first showed him the president's opening offer. >> i was flabbergasted. i looked at him, i said, "you can't be...
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the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically, the cbo estimates it would have a positive long-term impact. by comparison, it says current law is kept in place, output and income would be lower down the road. so here is another way to look at it. fast forward to budget projections. keeping tax cuts in place, extending most tax provisions and putting off spending cuts would put revenue in 2020 at 4dz.2 trillion. spending at $5.3 trillion. the national debt is projected to be near $20 trillion by then. $3
the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do...
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obviously globally, the economy is still soft. europe is going to be in the doldrums for quite some time, asia is not charging forward and some of the emerging markets are not charging forward as quickly as they were maybe a few years ago, but i think all of you recognized and many of you told me is that everybody's looking to america, because they understand if we're able to put forward a long-term agenda for growth and prosperity that's broad-based here in the united states, that confidence will not just increase here in the united states, it will increase globally and we can get the virtuous cycle that i think all of us have been waiting for and want to see. what's holding us back right now ironically is a lot of stuff that's going on in this town, and i know that many of you have come down here to try to see, is there a way that we can break through the log jam, and go ahead and get things done and i'm here to tell you that nobody wants to get this done more than me. i know you've gotten a lot of briefings but let me describe
obviously globally, the economy is still soft. europe is going to be in the doldrums for quite some time, asia is not charging forward and some of the emerging markets are not charging forward as quickly as they were maybe a few years ago, but i think all of you recognized and many of you told me is that everybody's looking to america, because they understand if we're able to put forward a long-term agenda for growth and prosperity that's broad-based here in the united states, that confidence...
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don't put the economy through again. he's already preparing for that. >> the people who really get stuff done in washington, the business lobby, the defense lobby. now here is the difference. the difference with this dynamic, the hostage takers last time have been taken hostage, right? the people who are prepared to bust through all of these moments and really go over the cliff are the democrats. they don't mind taxes. you've got a different dynamic just because who is willing to go through the deadline? >> errol, the president will meet with those ceos. how many will look and say, you know what, hey, buddy, you stink at running negotiations. will you get into a room and work this out? enough of this public posturing. it's absurd. >> they won't say it to his face obviously. >> they'll tell it to other people. they ought to. >> when you're in the beltway, in the bubble, you realize things aren't quite as simple as all of that and things have to go through. there is this tremor, i think, going through state and local gover
don't put the economy through again. he's already preparing for that. >> the people who really get stuff done in washington, the business lobby, the defense lobby. now here is the difference. the difference with this dynamic, the hostage takers last time have been taken hostage, right? the people who are prepared to bust through all of these moments and really go over the cliff are the democrats. they don't mind taxes. you've got a different dynamic just because who is willing to go...
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the conditions have changed, the economy has changed, i think the outlook in the picture has changed. that's part of the reason the president is so firm about not going back to the debt ceiling conversation again and creating that level of instability and not bending on this issue of raisings the rates on the top 2%. >> yeah. i think -- >> go ahead. >> it's an important point. i think the american people are seeing that the president has already agreed to more than a year ago to that $1 trillion of cuts. that was 100% in cuts as part of the budget control act and he's always said we need a balanced approach. we can't do it through cuts alone. he has proposed additional cuts as part of the process but you need to have that revenue component to have the balanced approach. he has been insistent that we help our infrastructure and help the things that move the economy forward and it's interesting that republicans are so focused on this bonus tax break for 3 million americans but they have opposed or certainly been silent on the idea of extending for one year the payroll tax cut that benef
the conditions have changed, the economy has changed, i think the outlook in the picture has changed. that's part of the reason the president is so firm about not going back to the debt ceiling conversation again and creating that level of instability and not bending on this issue of raisings the rates on the top 2%. >> yeah. i think -- >> go ahead. >> it's an important point. i think the american people are seeing that the president has already agreed to more than a year ago...
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>> this is the new economy. factory jobs weren't good jobs either. the reason they became the middle class jobs we know because people organized. >> what's the next move? >> it's a movement. they are not giving up. they are going to keep working and i spoke to johnathan weston and they are hoping that more workers got energized by seeing this happen and by seeing everybody go back in today and not face reprize sal. >> so the next phase is what? >> i'm hoping for more strikes, ed. >> you're hoping for more strikes? >> yeah. >> did the 98% have anything to do with this? >> it crystallized something already going on in this country that people knew about where the wealth was going. they knew we have seen it go to the people at the top and the people at the bottom were getting squeezed. productivity has gone up, they are working harder and longer. >> there's been no organized union that has gone nd
>> this is the new economy. factory jobs weren't good jobs either. the reason they became the middle class jobs we know because people organized. >> what's the next move? >> it's a movement. they are not giving up. they are going to keep working and i spoke to johnathan weston and they are hoping that more workers got energized by seeing this happen and by seeing everybody go back in today and not face reprize sal. >> so the next phase is what? >> i'm hoping for...
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this economy wants to take off again. what's holding it back right now is the political uncertainty about whether we're going to go over the cliff and each day that clicks off, we are holding back retail sales during the christmas season and that's just crazy. >> senator, on entitlements, the other side of the equation here if the tax rates have gotten what the president wants, which is a raise to 39.6%. the three national unions have that come out with an ad campaign are targeting two senators. you are one of them. as well as two republican congressman as well. they are saying don't touch social security or medicare or other entitlements. would you be open to touching them in a deal? >> interest groups have every right to advocate but we've seen the lack of power that some of the negative attacks that were spent against a lot of candidates. i think medicare is a great program. it needs to be protected. but anyone that denies the math around these programs is just disconnected to reality. the fact is, when i was a kid, th
this economy wants to take off again. what's holding it back right now is the political uncertainty about whether we're going to go over the cliff and each day that clicks off, we are holding back retail sales during the christmas season and that's just crazy. >> senator, on entitlements, the other side of the equation here if the tax rates have gotten what the president wants, which is a raise to 39.6%. the three national unions have that come out with an ad campaign are targeting two...
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professor dyson, the economy appears to be rebounding. gdp was better in the third quarter than we thought, up from 2% to 2.7%. and by one estimate new home sales this year will be up 8%, and yet conservatives advise us to place ideology first. now, do they realize what that could do to this country come january and that it will plunge the nation into a certain depression? >> martin, they realize it, but i'm afraid they don't care. the reality is -- >> do you really believe that, professor dyson? >> i absolutely do. i believe this, i believe they are so mon know maniacal about pursuing their ideological beliefs they would defer even the fate of this nation to their particular policies, to their particular public policy recommendations and to their particular politics and ideology. why would we believe anything different? every critical moment in the last two years they proved to be partisans to their particular politics. they're not patriots for the broader sake of the nation. they are concerned about getting in their ideological points.
professor dyson, the economy appears to be rebounding. gdp was better in the third quarter than we thought, up from 2% to 2.7%. and by one estimate new home sales this year will be up 8%, and yet conservatives advise us to place ideology first. now, do they realize what that could do to this country come january and that it will plunge the nation into a certain depression? >> martin, they realize it, but i'm afraid they don't care. the reality is -- >> do you really believe that,...
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our economy is consumer driven. the more consumers that more money, the better it is for small businesses like me. this puts $2,000 to $3,000 in the hands of regular, ordinary working people who will spend it. the lower taxes on the rich just sends more money outside of our community, outside of our country to make bankers in the cayman islands happy. i am happy to see the president ask regular legislators to contact their legislators. >> do you think the president is trying to make this thing happen? >> i really got the feeling that they understood the stakes here. while they really wanted to hear from us, what they heard from the dozen small business people in the room who represented about 150,000 in our various progressive small business organizations was don't raise taxes on the middle class, tax the rich more. there were even calls in that room for higher minimum wages. clearly, no one wants to cut out the safety net that working people are promised for their lives of diligence, using their brains and brawn to
our economy is consumer driven. the more consumers that more money, the better it is for small businesses like me. this puts $2,000 to $3,000 in the hands of regular, ordinary working people who will spend it. the lower taxes on the rich just sends more money outside of our community, outside of our country to make bankers in the cayman islands happy. i am happy to see the president ask regular legislators to contact their legislators. >> do you think the president is trying to make this...
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he's argued this based on economis economists. it's not nonsense, an illness. >> first of all, going back to my core argument, the idea if you're grg toç take $89 billioa year and reduce the deficit, it's laughable in its face. the president is calling for more spending with his new stimulus. number two. point number two, the democrats have shown nothing by way of spending cuts. julian talks about there's $1.6 trillion. only in washington, d.c. can you say we're winding down the war but we're going to count that as savings. baseline spending doesn't make any sense. the president of the united states -- >> if we -- >> julian, hang on one second. the president of the united states should call the congressional leadership up to camp david, go up there and they should get in a room and they should sit there until they hammer out a deal. >> i agree with that. >> julian, go ahead. >> there are three big points the viewers need to understand and they need to take note that ron did not respond to. first, on the economists. the economist
he's argued this based on economis economists. it's not nonsense, an illness. >> first of all, going back to my core argument, the idea if you're grg toç take $89 billioa year and reduce the deficit, it's laughable in its face. the president is calling for more spending with his new stimulus. number two. point number two, the democrats have shown nothing by way of spending cuts. julian talks about there's $1.6 trillion. only in washington, d.c. can you say we're winding down the war but...
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i for one, if you didn't care about the economy and you didn't care about the american people, you bet your life you can get $800 billion or trillion dollars out of raising -- eliminating deductions and tax credits. >> but conman, he kncongressman you muster all those deductions together they only amount to about $400 billion. >> i think we could do that. i think we can do it. first of all, you have to make certain that local and state tax deductions are not there. then you take away all the charitable deductions that we have. then you take away all of the mortgage deductions for the rich and the middle income, all that you have there. and then you start looking at the deductions that you have for children, for earned income tax credits, for the poor people that are there. if you really look at everything that so many americans have taken for granted and even if you don't reach the $800 billion, at least you will find out what is this man talking about. just don't say you can't do it, it's not arithmetic. give them a piece of chalk, go to the blackboard, and show us, mr. speaker, what
i for one, if you didn't care about the economy and you didn't care about the american people, you bet your life you can get $800 billion or trillion dollars out of raising -- eliminating deductions and tax credits. >> but conman, he kncongressman you muster all those deductions together they only amount to about $400 billion. >> i think we could do that. i think we can do it. first of all, you have to make certain that local and state tax deductions are not there. then you take...
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it will eventually cost us jobs and eventually slow the economy. that's going to cost us revenue as well. i don't agree with the president on that point. frankly, i think he needs to be a lot more specific about putting spending cuts and entitlement reform on the table. having said that, though, if the president's willing to accept 80% of the bush tax cuts for 98% of the american people and make them permanent, that's a point we should agree on, do that, and continue to fight for the things we believe in, simply because we accept that part of his offer doesn't mean we have to agree with the rest. but what i think a lot of people forget is, look, these tax rates are going up automatically unless congress acts. i favor acting to save as many of them as possible. >> makes sense. here's today, the speaker of the house john boehner signaled you out for your remarks on the compromise. let's listen to what you he said about you, sir. >> i told tom earlier in our conference meeting that i disagreed with him. you're not going to grow the economy if you rais
it will eventually cost us jobs and eventually slow the economy. that's going to cost us revenue as well. i don't agree with the president on that point. frankly, i think he needs to be a lot more specific about putting spending cuts and entitlement reform on the table. having said that, though, if the president's willing to accept 80% of the bush tax cuts for 98% of the american people and make them permanent, that's a point we should agree on, do that, and continue to fight for the things we...
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. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment on cuts, on investments and revenue this year. and then in the next year take the time to g
. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing...
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that's not what we believe is the kind of activity will get our economy and jobs rolling again. >> the white house will argue they're not the ones holds out to protect the top 2%, that it's the republicans doing that. >> great point, chris, the problem is what the president is holding out for is a nonsolution. the tax increases that the president wants on the top 2% will run this government not for eight years or eight weeks or eight weeks but run this government for eight days, which means it's not a solution. the president is not interested in real policy solutions by evidenced by what he has proposed, he's interested in politics and that's the challenge that we have a getting through that and making certain that we not be talking politics, we talk about positive policy for american people, getting committee rolling and getting jobs created. >> the administration, as we've been saying, has said they're prepared to go over the cliff. we heard that from tim geithner. if republicans refuse to raise taxes on the wealthy and john boehner said yesterday that's unacceptable, though he admit
that's not what we believe is the kind of activity will get our economy and jobs rolling again. >> the white house will argue they're not the ones holds out to protect the top 2%, that it's the republicans doing that. >> great point, chris, the problem is what the president is holding out for is a nonsolution. the tax increases that the president wants on the top 2% will run this government not for eight years or eight weeks or eight weeks but run this government for eight days,...
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you want to make sure the debt is not growing faster than the economy. that's going to take $4 trillion in savings. you need all parts on the table and constructed in a thoughtful way so that revenues are raised in ways that are good for the economy as possible, and that when we're looking at the spending in the budget, we reform our entitlement programs and reduce spending in way that's thoughtful and good for the economy. it's going to take a lot to get there, but i actually think most of the policy ideas are well known and we're now in this political negotiation where i think there's a lot of support for having them, if they're going to go through all this, have a deal big enough to fix the problem. >> what do you say, two things, first of all, it to those who say that the economy is still sputtering along, weakness in the manufacturing sector, for instance, that this isn't the right time for dramatic cuts and secondly, that the debt ceiling deal will not be averted because the republicans have said that is a nonstarter. this could be a negotiating po
you want to make sure the debt is not growing faster than the economy. that's going to take $4 trillion in savings. you need all parts on the table and constructed in a thoughtful way so that revenues are raised in ways that are good for the economy as possible, and that when we're looking at the spending in the budget, we reform our entitlement programs and reduce spending in way that's thoughtful and good for the economy. it's going to take a lot to get there, but i actually think most of the...
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. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want to look at it from a policy standpoint, it may not be the worst possible option to just go over the cliff and then put back in the tax cuts and the spending increases or renewals that you'd like to put back in. so, you know, worst things could happen. >> well, listen, alan simpson and i go back to his sound from the "today" show, eugene. he said anyone talking about it in that way, there's stupidity involved. he didn't say, eugene, you better not because you're my buddy, but the reality is even our first read team says this notion or all of this media hype about going off the c
. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want...
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. >> not only do immigrants help build our economy, they invigorate our soul. america can be a lawful society and a welcoming society at the same time. as our nation debates the proper course of action relating to immigration, i hope we do so with a benevolent spirit and keep in mind the contribution of immigrants. >> it's a very interesting reminder. jeb bush, of course, has been very outspoken but there is a different wing of the republican party. >> we george w. bush talk about taking a softer line on immigration the day after republicans in the senate refused to ratify a treaty on discrimination against disabled people. those are two different courses for the republican party and i see one thing that strikes me, you have george w. bush here, robert dole, another former presidential nominee on the floor of the state. the party is moving on. these are not the most powerful voices in the party. the speeches we heard yesterday from marco rubio and paul ryan are i think more influential when trying to look at where is the republican party going to go. >> and, in
. >> not only do immigrants help build our economy, they invigorate our soul. america can be a lawful society and a welcoming society at the same time. as our nation debates the proper course of action relating to immigration, i hope we do so with a benevolent spirit and keep in mind the contribution of immigrants. >> it's a very interesting reminder. jeb bush, of course, has been very outspoken but there is a different wing of the republican party. >> we george w. bush talk...
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it's important to go out and shop, important to stimulate the economy. if we're going to pick a store, let's go to costco which is known for treating its workers better than basically any general retailer in the country. i've been covering labor for a few years for "the new york times" and a few years ago, several people were saying, you should take a look at costco. they really do remarkable job in how they treat their workers. so i went out to their headquarters in washington. i spent a day with that gentleman next to biden, mr. seni fwrks senigal, co-founder of the company. his father was a steelworker. he grew up in pittsburgh. i figured he was sympathetic to unions. he grew up catholic. he said, no, no, that's not why i treat our workers well. we're not the little sisters of the poor. he said it's good business. he said treating workers well mean they work hard for you, there's far less turnover. the typical costco worker who's been there more than a year stays on average 17 years. costco is known for having far less theft than most retailers. and h
it's important to go out and shop, important to stimulate the economy. if we're going to pick a store, let's go to costco which is known for treating its workers better than basically any general retailer in the country. i've been covering labor for a few years for "the new york times" and a few years ago, several people were saying, you should take a look at costco. they really do remarkable job in how they treat their workers. so i went out to their headquarters in washington. i...
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you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on americans earning $250,000 or more. most republicans remain dead set against the president's plan. >> that's true. i think, though, we have to take a look at the larger context. the larger context is we have a math problem. we have $2.5 trillion that we're taking in every year on the federal government and $3.5 trillion that we're spending. so, we're going to need a balanced approach of both revenue and spending cuts to teat there. so, that's what the president has been talking about and certainly something i can support. >> "the wall street journal" today senior administration officials say the white house not making any new offers until republicans change their opposition to raising top tax rates in this country. as a businessman, that would be directly affected by an impasse like that, as would millions of americans. how do you feel about that? >> how i feel, i'm 100% confident we'
you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on americans earning $250,000 or more. most republicans remain dead set against the president's plan. >> that's true. i think, though, we have to take a look at the larger context. the larger context is we have a math problem. we have $2.5 trillion that we're taking in every year on the federal government and $3.5 trillion...
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economy. i think consumers are where it's at. we just got to get over this fiscal cliff thing. >> jonathan capehart. >> i learned president morsi of egypt is fanatical about "planet of the apes." >> that is really all you need to know. jonathan, thank you so much. rana, steve, michael and everybody, thank you for watching today. if it's "way too early," it's "morning joe." chuck todd is next with "the daily rundown." >>> together again. mitt romney makes his way to the white house. it's not exactly the way he wanted to get there. but can something constructive come out of a private lunch between president obama and the man he defeated just three weeks ago? that's right. that was just three weeks ago. >>> also this morning, a deep dive into america's longest war. look into lessons learned and the sacrifices made by troops at one combat outpost. tell us about what's been accomplished and what's not in more than a decade of fighting. as the country wakes up obsessed with numbers and winners, for the lottery, that, we've got a very i
economy. i think consumers are where it's at. we just got to get over this fiscal cliff thing. >> jonathan capehart. >> i learned president morsi of egypt is fanatical about "planet of the apes." >> that is really all you need to know. jonathan, thank you so much. rana, steve, michael and everybody, thank you for watching today. if it's "way too early," it's "morning joe." chuck todd is next with "the daily rundown." >>>...
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we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a different view. the consumer -- for the consumer so far, this has sort of passed by. i wouldn't say blissful ignorance, but it has not affected their behavior. you had a fairly strong set of economic numbers this fall. the housing market seems to have finally turned up after a period of obviously deep decline. and so consumer confidence, which is one of our best proxies for this kind of thing, has been turning up and really does not yet -- the fiscal cliff does not yet seem to have penetrated their consciousness. for those of us who were in stores over the holiday weekend, stores are crowded, people are buying, but it's only
we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a different view. the consumer -- for the consumer so far, this...
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you cut taxes, you grow the economy, you reduce the deficit. it almost seems like someone who would have tried to run for president maybe on a line like that. surely republicans could win on that platform unless it didn't win. >> exactly. they've all been quick to distance themselves from mitt romney, except they have presented his plan as their own. i guess maybe it was their plan to begin with in the form of paul ryan, and, you know, look, it's just not going to fly with the american people and the days go on. what i really think, if i were giving them political advice, i think tom cole, a representative among them who is probably one of the smarter political tacticians in their party gave them some advice. let's get this over with. let's not be the party that looks like we're only looking out for the top 2%. but that's really, martin, exactly what they look like. the differences here i think to most americans are fairly small. let's keep taxes low for 98% of americans and lets ask the wealthy to pay a little more but it looks like republican
you cut taxes, you grow the economy, you reduce the deficit. it almost seems like someone who would have tried to run for president maybe on a line like that. surely republicans could win on that platform unless it didn't win. >> exactly. they've all been quick to distance themselves from mitt romney, except they have presented his plan as their own. i guess maybe it was their plan to begin with in the form of paul ryan, and, you know, look, it's just not going to fly with the american...
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the american economy is on the line. and this is a moment for adult leadership. >> to talk all things politics, we bring in nick from the "new york times." politico is reporting today boehner and the president had a curt phone call. that's curt with a "c." should we be reading something into that? >> you almost can't tell what's happening by looking at the president and jay carney and speaker boehner are saying. you have to look further out and see where the ripples are. really when boehner's talking and when the president is talking, they are talking to their members in congress. so it's members you have to look at. obviously, there are teams of economists and policy experts behind the scenes that are crafting all kinds of compromises. it really comes down to the members, i think. >> let's talk about one of those members, representative tom cole, republican from oklahoma came out and said he thinks republicans should go ahead and pass what the president has proposed, basically extend the tax cuts for the middle class up
the american economy is on the line. and this is a moment for adult leadership. >> to talk all things politics, we bring in nick from the "new york times." politico is reporting today boehner and the president had a curt phone call. that's curt with a "c." should we be reading something into that? >> you almost can't tell what's happening by looking at the president and jay carney and speaker boehner are saying. you have to look further out and see where the...
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the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ ♪ [ male announcer ] while you're getting ready for the holidays, we're getting ready for you. tis the season. for food, for family, and now, something extra -- for you. >>> have you joined the "politicsnation" conversation on facebook yet? we hope you will. president obama and romney's white house lunch was the topic of the day. charmaine says, it's great that they can meet. syed said, this is an awesome display of shake of hands of bipartisan relations. we hope. it didn't take long for the photo shoppers to make their own colorful edits to the picture. we can only imagine what big bird would have said to these two. weapon want to hear what you think about the lunch or anything that's on your mind. head over to "politicsnation" and "like" us to join the conversation that's going on long after the show ends. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus pla
the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ ♪ [ male announcer ] while you're getting ready for the holidays, we're getting ready for you. tis the season. for food, for family, and now, something extra -- for you. >>> have you joined the "politicsnation" conversation on facebook yet? we hope you will. president obama and romney's white house lunch was the topic of the day. charmaine says,...
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the president replied breaks for middle class important for families and economy. if top rates don't go up, danger middle-class deductions get hit. the gop is holding middle-class taxes hostage i'm not. joining me is msnbc policy analyst and columnist for "the washington post" ezra klein. it is great to have you. we need your help today. >> you know what makes me sad about that twitter discussion. >> what's that? >> those were 140 character bites more substantive than almost any of the tax discussions in the media or in washington. they were beating us in 140 characters. >> the president's twitter -- you have to -- in too many abbreviations but i'm getting ahead of myself here. let's talk about those substantive tweets which is to say, i want to talk about the closing of loopholes. i spoke with grover norquist about this magic math that the republicans are doing. let's say they put closing loopholes and deductions on the table. the issue is whether anybody is going to go for this. the deductions that are there are very popular. the ones that would get the most reve
the president replied breaks for middle class important for families and economy. if top rates don't go up, danger middle-class deductions get hit. the gop is holding middle-class taxes hostage i'm not. joining me is msnbc policy analyst and columnist for "the washington post" ezra klein. it is great to have you. we need your help today. >> you know what makes me sad about that twitter discussion. >> what's that? >> those were 140 character bites more substantive...
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it's a consumer-driven economy. about 70% of the economy is consumer driven. and the other thing the president put on the table, i understand, is refinancing proposal. >> right. >> where people trapped in 7%, 8% mortgages can go down to 4% and 5% mortgages have money in their pocket. these are responsible homeowners to spend out there. so the republicans, i think they're brooding. i think they're upset. i think they're in shock over this election. and they are behaving badly in this sense. we can join hands and take care of the tax cuts for 98% of the american people. can you imagine if i told you, we were in an argument and i gave you 98% of what you want, wouldn't you grab it? this doesn't make any sense to the folks out there. and that's why the courageous republicans like tom cole deserve a lot of credit. but their leaders don't have the message. i don't know what they want. they want a presidential election do-over? that isn't going to happen. this was one of the major issues in the election. let's get on with it and help the middle class, ask the wealthi
it's a consumer-driven economy. about 70% of the economy is consumer driven. and the other thing the president put on the table, i understand, is refinancing proposal. >> right. >> where people trapped in 7%, 8% mortgages can go down to 4% and 5% mortgages have money in their pocket. these are responsible homeowners to spend out there. so the republicans, i think they're brooding. i think they're upset. i think they're in shock over this election. and they are behaving badly in this...
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portion that goes to defense be harmful to national security, but that it would be a huge hit on the economy because there's so many jobs involved. so my sense is people don't want to talk about that because it would raise a lot of alarms but in some ways is more serious than the tax cuts even though they don't all occur at once. it would sends us down a difficult path. it's already created a lot of uncertainty in the defense world. >> some of the more liberal opponents of the deal on the democratic left, would not mind seeing these defense cuts. >> just as they wouldn't mind in some cases on the left seeing the tax increase on everybody so that they can force a vote to lower the rates back only for those americans outside the top 2%, you're right. a lot of liberals would like to see that. this is why the president has leverage. he has some leverage off of his victory in the campaign, but he's got a lot of leverage off of the tax rate issue as well as these defense cuts and the republicans know it. that's why there's much more pressure on them and you hear this from a lot of lobbyists and me
portion that goes to defense be harmful to national security, but that it would be a huge hit on the economy because there's so many jobs involved. so my sense is people don't want to talk about that because it would raise a lot of alarms but in some ways is more serious than the tax cuts even though they don't all occur at once. it would sends us down a difficult path. it's already created a lot of uncertainty in the defense world. >> some of the more liberal opponents of the deal on the...
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summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. brilliant. put it another way. if there is an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to protect ourselves from asteroids. >> good morning. it's friday, november 30th. welcome to "morning joe." with us on set, we have msnbc political analyst and vice president and executive editor of msnbc.com, richard wolffe is here. >> he's here? >> my lord. right here on the set. political editor and white house correspondent for the huffington post, sam stein. >> hi. >> cute thing. and msnbc political analyst and visiting professor at nyu and former democratic congressman harold ford jr. >> good morning. >> good morning. >> he's reading. >> put that down right now. put the smut down. close it
summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. brilliant. put it another way. if there is an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work...
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i think the economy is a little bit bigger. people are not talking about that. we have an absurd situation to get 10,000 visas a year from mexico. i'm from southern california, you can fit those 10,000 visas in about half of long beach where i'm from. it doesn't begin to make sense. people aren't talking about that. i don't think obama is pressured to deal with this because he got four more percentage points. >> this is the artificial crisis. the crisis of insufficiency, it's created by our actual policy. with a stroke of the pen, we can change it. with legislation like all issues that are difficult, they're difficult for a reason. it's tough to get their politically but the easiest way to go about it. let's get the numbers of visas way up there so it reflects at least some bit of reality and stop criminalizing human existence. >> business push on this as well. >> there's a business push. frankly, there's going to be a fight. even though business is on the same side as immigrant rights movement, there will be a fight between business and those groups. because bu
i think the economy is a little bit bigger. people are not talking about that. we have an absurd situation to get 10,000 visas a year from mexico. i'm from southern california, you can fit those 10,000 visas in about half of long beach where i'm from. it doesn't begin to make sense. people aren't talking about that. i don't think obama is pressured to deal with this because he got four more percentage points. >> this is the artificial crisis. the crisis of insufficiency, it's created by...